High-Grade Antimony Findings at Maverick Springs Project by Sun Silver Limited
SUN SILVER LIMITED (SS1) Share Update September 2024 Monday 9th
Sun Silver Limited Reports High-Grade Antimony Findings at Maverick Springs Project
Sun Silver Limited (ASX: SS1) has announced promising high-grade antimony (Sb) findings from their ongoing assessment of the Maverick Springs Project in Nevada, USA.
Instant Summary:
- High-grade antimony readings up to 13,199ppm identified.
- Antimony mineralization found up to 1.3km apart within the Maverick Springs Project.
- Five historical drill holes returned high-grade antimony readings.
- Ongoing analysis to determine the full extent of antimony mineralization.
- Potential funding opportunities with the US Department of Defense due to urgent demand for antimony.
Overview of Findings
Sun Silver Limited has reported high-grade antimony (Sb) findings from their Maverick Springs Project in Nevada, USA. The ongoing assessment of both historical and current drill material has revealed significant antimony mineralization distributed across the project area. Notably, high-grade antimony readings have been identified up to 1.3km apart, highlighting the extensive potential of the deposit.
Using portable X-ray fluorescence (pXRF) analysis, five historical drill holes have returned high-grade antimony readings, with the highest recorded at 13,199ppm in drill hole MR124. Average pXRF readings in MR124 were 1453ppm over a 35.05m interval from 137.16m depth, including a peak reading of 13,199ppm over 1.52m from 141.73m depth.
Detailed Drill Results
Other notable drill results include:
- MR1: Shallow average pXRF readings of 1356ppm over 6.09m from 25.91m depth.
- MR092: Average readings of 876ppm over 13.72m, with a peak of 1458ppm over 1.52m.
- MR067: Average readings of 874ppm over 3.05m and 1422ppm over 1.52m.
- MR093: Average readings of 936ppm over 13.72m, including a peak of 2684ppm over 1.52m from 557.78m depth.
Additionally, seven drill holes from the 2024 and 2008 campaigns have shown anomalous antimony showings, with assay results exceeding 10,001ppm (1%) Sb over 1.52m in hole MR08-184.
Significance of Antimony
Antimony is a critical mineral with numerous applications in defense, technology, and energy sectors, including munitions, semiconductors, and clean energy storage batteries. The recent Chinese export restrictions on antimony have heightened the urgency for alternative sources, positioning Sun Silver's Maverick Springs Project as a potentially vital supply source for the United States.
Sun Silver is actively exploring funding opportunities with the US Department of Defense to advance the Maverick Springs Project and meet the urgent demand for antimony in the US. This initiative underscores the strategic importance of the project in addressing national security and defense needs.
The discovery of high-grade antimony at the Maverick Springs Project is likely to positively impact Sun Silver Limited's stock price. The potential for significant antimony mineralization, coupled with the strategic importance of the mineral, positions the company favorably in the market. The ongoing analysis and potential funding from the US Department of Defense further enhance the project's prospects.
Investor Reaction:
Analysts are expected to react positively to the high-grade antimony findings, given the critical importance of the mineral and the potential for substantial mineralization at Maverick Springs. The strategic move to secure funding from the US Department of Defense is also likely to be well-received, as it addresses a pressing national need and enhances the project's viability.
Conclusion:
Investors should closely monitor Sun Silver Limited's ongoing analysis and potential funding developments. The high-grade antimony findings at Maverick Springs Project present a significant opportunity for the company, particularly in light of the urgent demand for antimony in the US. Sun Silver's strategic initiatives and continued exploration efforts will be crucial in realizing the full potential of this promising project.